Marilyn Geewaxhttp://kvnf.org
enFrom Highways To Trade Deal, What Big Business Wants By Christmashttp://kvnf.org/post/highways-trade-deal-what-big-business-wants-christmas
Temperatures soar, flowers bloom and the sun rises early. On these long summer days, there still seems to be plenty of time for achieving your 2015 goals.<p>But not if you are a business lobbyist. For you, time is short.<p>Here's what you want by Christmas: a Pacific Rim trade deal; an updated No Child Left Behind Act; revival of the Export-Import Bank; long-term highway funding and a completed federal budget.<p>Here's what's worrying you: A calendar that has the House working only eight more days before the summer recess begins on July 31. The Senate leaves on Aug. 7.Sat, 18 Jul 2015 14:13:00 +0000Marilyn Geewax44072 at http://kvnf.orgFrom Highways To Trade Deal, What Big Business Wants By ChristmasTired Of Greek Reruns? Understandable, But A New Season Is Beginninghttp://kvnf.org/post/tired-greek-reruns-understandable-new-season-beginning
Is news coverage of Greece wearing you down? Too many deals and deadlines?<p>It's no wonder. The "Greek debt crisis" has been in progress for nearly six years, making it easy to assume that we're seeing just another crazy episode in a long-running drama.<p>But European leaders are saying this time it really is different. Here's why:<p>After a marathon summit that ran into Monday morning, eurozone leaders stood united, agreeing to <a href="http://big.assets.huffingtonpost.com/Final_Greece_Deal_Text.pdf">bail out </a>a deeply indebted Greece for a third time.Mon, 13 Jul 2015 21:33:00 +0000Marilyn Geewax43853 at http://kvnf.orgTired Of Greek Reruns? Understandable, But A New Season Is BeginningStocks Manage To Bounce, But Commodity Prices Are Swooninghttp://kvnf.org/post/stocks-manage-bounce-commodity-prices-are-swooning
After a nerve-rattling plunge, stocks in Asia, Europe and the United States managed to end the week ahead of where they started.<p>But not so for industrial commodities. Their prices just keep heading south — creating more worries for miners, but good news for many manufacturers and consumers. The price drops could even help depress interest rates for all sorts of borrowers.<p>Before considering the impacts, first check out the magnitude of the changes.Sat, 11 Jul 2015 14:13:00 +0000Marilyn Geewax43774 at http://kvnf.orgStocks Manage To Bounce, But Commodity Prices Are SwooningA Day Filled With Market Jitters, But Not Panichttp://kvnf.org/post/day-filled-market-jitters-not-panic
If you were looking for reasons to be nervous, Wednesday provided lots of them, like these:<p>-- Chinese stocks plunged again, with the Shanghai Composite Index falling another 5.9 percent.<p>-- The Greek debt crisis remained unresolved, with European officials still scrambling for a solution.<p>-- Many raw-material prices continued their slide — with the Bloomberg Commodity Index down 26 percent from last year.<p>And then came a thunderbolt. A "technical issue" forced the shutdown of the New York Stock Exchange (NYSE) for most of the day.Wed, 08 Jul 2015 21:24:00 +0000Marilyn Geewax43649 at http://kvnf.orgA Day Filled With Market Jitters, But Not PanicSo Far, So Good For The Economy. But What About The Second Half?http://kvnf.org/post/so-far-so-good-economy-what-about-second-half
Maybe it seems like just yesterday that you were storing away your holiday decorations.<p>Maybe it actually <em>was </em>yesterday because life gets busy and tasks get put off, and before you know it, half the year is over and you're scrambling to catch up.<p>So in case you have been too busy to pay close attention, here's what we now know about the just-ended half of this year's economy:<p>On Friday, the Labor Department provided another reasonably upbeat monthly <a href="http://www.bls.gov/news.release/empsit.nr0.htm">jobs report</a> — good enough to make 2015 a winner so far for workers.<p>Thu, 02 Jul 2015 21:36:00 +0000Marilyn Geewax43433 at http://kvnf.orgSo Far, So Good For The Economy. But What About The Second Half?Debate Begins: New OT Rules Will Raise Wages — Or Kill Jobshttp://kvnf.org/post/debate-begins-new-ot-rules-will-raise-wages-or-kill-jobs
Business groups and labor unions sharply disagreed today over the potential impact of a proposed change to the federal rule governing overtime pay.<p>In coming months, the two sides will submit comments in writing to the Labor Department to try to shape the rule's final wording, but the verbal sparring already has begun.<p>Business leaders say hiking overtime pay would reduce hiring, while unions say the change would stimulate the economy by raising incomes for about 5 million Americans.<p>Before laying out the different reactions, we'll look at what happened today:<p>The White House announcedTue, 30 Jun 2015 21:20:00 +0000Marilyn Geewax43339 at http://kvnf.orgDebate Begins: New OT Rules Will Raise Wages — Or Kill JobsIf The Mess In Greece Is All Greek To You, Then Read Thishttp://kvnf.org/post/if-mess-greece-all-greek-you-then-read
<em>"It was Greek to me."</em><p>Shakespeare used that phrase in one of his tragedies to suggest that a complicated matter was beyond understanding.<p>Many Americans may be muttering those words again as this week's Greek tragedy plays out.<p>The situation in Athens really is complicated, but it's also important.Mon, 29 Jun 2015 21:23:00 +0000Marilyn Geewax43284 at http://kvnf.orgIf The Mess In Greece Is All Greek To You, Then Read ThisCongress Signs Off On Trade Bills, Handing Obama A Huge Winhttp://kvnf.org/post/congress-signs-trade-bills-handing-obama-huge-win
The U.S.Thu, 25 Jun 2015 17:27:00 +0000Marilyn Geewax43120 at http://kvnf.orgSenate Passes Fast-Track Trade Legislation, 60-38 http://kvnf.org/post/senate-passes-fast-track-trade-legislation-60-38
The Senate handed President Obama a huge victory Wednesday afternoon, giving him final approval of legislation that enhances his power to negotiate trade deals.<p>The bill needed just 51 votes, but passed 60-38, making it look almost easy.<p>But earlier this month, the legislation granting Trade Promotion Authority seemed likely to die because of fierce opposition from many Democrats and some Republicans. Various legislative maneuvers were employed to set back the measure.<p>In an unusual alliance, Obama worked with Republican leaders in the House and Senate to keep pushing forward.Wed, 24 Jun 2015 20:50:00 +0000Marilyn Geewax43072 at http://kvnf.orgSenate Votes To Advance The White House Trade Agendahttp://kvnf.org/post/senate-votes-advance-white-house-trade-agenda
The Senate voted 60-37 Tuesday to advance President Obama's trade agenda — setting up a big victory for the White House and a painful loss for labor unions.<p>This latest Senate vote clears away procedural hurdles for legislation granting Trade Promotion Authority (TPA) to Obama. That power allows the president to negotiate trade pacts and then put them on a so-called fast track through Congress.Tue, 23 Jun 2015 17:43:00 +0000Marilyn Geewax43019 at http://kvnf.orgAirlines Vs. Airports: A Dogfight Over Fees Imposed On Fliers http://kvnf.org/post/airlines-vs-airports-dogfight-over-fees-imposed-fliers
You'd think everyone in the aviation industry would be on the same page about improving air travel. Surely they all want more modern aircraft and upgraded airports, right?<p>They do. But airlines and airports are in a political dogfight this summer over who should be getting more of your money for improvements.<p>Airports say they need higher airport fees to upgrade runways and terminals, many of which date back to the 1950s and 1960s.Tue, 23 Jun 2015 15:55:00 +0000Marilyn Geewax43013 at http://kvnf.orgAirlines Vs. Airports: A Dogfight Over Fees Imposed On Fliers Yes, Your Car Loan Will Still Be Cheap As Fed Holds Rates Lowhttp://kvnf.org/post/yes-your-car-loan-will-still-be-cheap-fed-holds-rates-low
The Federal Reserve's policymakers Wednesday held steady on interest rates — and gave no specific time frame for when they might change course.<p>That was the expected outcome of their two-day meeting.<p>But this changed: The policymakers seemed a bit more optimistic about the U.S. economy.Wed, 17 Jun 2015 19:45:00 +0000Marilyn Geewax42778 at http://kvnf.orgYes, Your Car Loan Will Still Be Cheap As Fed Holds Rates LowU.S. House Votes To Buy Time For Obama's Trade Agendahttp://kvnf.org/post/us-house-looks-buy-time-obamas-trade-agenda
<strong>Updated at 2:55 p.m. ET</strong><p>This afternoon, the U.S. House voted 236 to 189 to give itself six more weeks to sort out tangled legislation involving trade.<p>The House Republican leaders prodded their members to approve a rule change that extends time for a second vote on one part of a trade package. This portion, called Trade Adjustment Assistance, failed on Friday.<p>That outcome tripped up the entire package, which also would have granted Trade Promotion Authority to the president.Tue, 16 Jun 2015 15:42:00 +0000Marilyn Geewax42722 at http://kvnf.orgDealing Blow To Obama, Efforts To Pass Trade Plan Fail In The House http://kvnf.org/post/live-blog-obama-visits-capitol-just-trade-bill-comes-vote
Dealing a big blow to President Obama's agenda, the House of Representatives failed to pass a key element of a package of bills that would have given Obama the ability to fast-track a trade deal with Pacific Rim nations.<p>The House began by voting on a bill that would provide funding for training Americans who would lose their jobs because of the trade deal.Fri, 12 Jun 2015 15:51:00 +0000Marilyn Geewax42586 at http://kvnf.orgDealing Blow To Obama, Efforts To Pass Trade Plan Fail In The House Teens Hoping For More Jobs, Higher Wages This Summer http://kvnf.org/post/teens-hoping-more-jobs-higher-wages-summer
Recipe for a good summer-job market: First, hire a lot of people in May. Second, give workers raises, and third, push down gasoline prices. Mix it all together — and pour out hope for teen workers.<p>"Having a job makes me feel really excited.Fri, 05 Jun 2015 18:30:00 +0000Marilyn Geewax42309 at http://kvnf.orgTeens Hoping For More Jobs, Higher Wages This Summer The Morning After: Lawmakers Vote To Reduce Amtrak Fundinghttp://kvnf.org/post/morning-after-lawmakers-vote-reduce-amtrak-funding
Transportation funding was going to get plenty of attention this week in Washington — even before an Amtrak train derailed about 140 miles to the north.<p>This is National Infrastructure Week, so lobbyists, labor leaders and activists started swarming Capitol Hill on Monday, seeking funds for roads, bridges and other projects related to transportation.<p>Then on Tuesday night, an Amtrak <a href="http://www.npr.org/sections/thetwo-way/2015/05/13/406380166/ntsb-team-on-its-way-to-investigate-amtrak-derailment" target="_blank">train crashed</a> in Philadelphia, killing seven people and injuring sWed, 13 May 2015 21:01:00 +0000Marilyn Geewax41393 at http://kvnf.orgThe Morning After: Lawmakers Vote To Reduce Amtrak FundingWould More Trade Help The Job Market Run Faster Or Trip It Up? http://kvnf.org/post/would-more-trade-help-job-market-run-faster-or-trip-it
The Labor Department's latest <a href="http://www.bls.gov/news.release/empsit.nr0.htm">report</a> shows employers created 223,000 jobs in April and the unemployment rate went down another notch to 5.4 percent.<p>So, yay!<p>But study the wage figures in Friday's report — and your "yay" turns to "meh."<p>Workers got raises of just 0.1 percent in April. Over the past year, wages advanced only 2.2 percent, a pace that amounts to treading water for most families.Fri, 08 May 2015 19:48:00 +0000Marilyn Geewax41208 at http://kvnf.orgWould More Trade Help The Job Market Run Faster Or Trip It Up? Fed Chair Yellen's Warning Adds To Recent Market Jittershttp://kvnf.org/post/fed-chair-yellens-warning-adds-recent-market-jitters
Both stock and bond markets had already been having a rough week, and then on Wednesday, Federal Reserve Chair Janet Yellen added to the jitters.<p>She warned that stock valuations are "generally quite high," and that "there are potential dangers there."<p>So if you happen to be an investor who wants to buy low and sell high (and really, who doesn't?), then you might take Yellen's comment as a suggestion that it's time to sell.<p>And that's just what happened: Measures of U.S.Wed, 06 May 2015 18:33:00 +0000Marilyn Geewax41106 at http://kvnf.orgFed Chair Yellen's Warning Adds To Recent Market JittersJapan's Abe Pushes The Pacific Trade Deal Onto Center Stage http://kvnf.org/post/japans-abe-pushes-pacific-trade-deal-center-stage
President Obama's plan for creating a Pacific Rim trade zone has been hovering in the wings, waiting for the right moment to demand attention.<p>On Wednesday, Japanese Prime Minister Shinzo Abe pushed it out on to center stage during a dramatic joint meeting of the U.S. House and Senate. <a href="http://www.npr.org/blogs/thetwo-way/2015/04/29/403075358/japans-prime-minister-makes-historic-address-to-congress">He urged Congress</a> to approve the proposed Trans-Pacific Partnership, or TPP.<p>"We must take the lead to build a market that is fair, dynamic, sustainable," he said.Wed, 29 Apr 2015 21:01:00 +0000Marilyn Geewax40813 at http://kvnf.orgJapan's Abe Pushes The Pacific Trade Deal Onto Center Stage Cheap Oil Fuels Global Growth. Now If We Just Had Roads And Bridgeshttp://kvnf.org/post/cheap-oil-fueling-global-growth-now-if-we-just-had-roads-and-bridges
The global economy won't sink this year, thanks to the oceans of cheap oil keeping it afloat.<p>That's the bottom line of the <a href="http://www.imf.org/external/pubs/ft/weo/2015/01/pdf/text.pdf">World Economic Outlook</a>, released Tuesday by the International Monetary Fund. The 2015 pace of economic growth will tick up to 3.5 percent, helped along by lower energy costs and weaker currencies.<p>The world's economic expansion is "modest and uneven," IMF economist Olivier Blanchard said.Tue, 14 Apr 2015 17:07:00 +0000Marilyn Geewax40147 at http://kvnf.orgCheap Oil Fuels Global Growth. Now If We Just Had Roads And Bridges'Clintonomics' Ruled The 1990s; 'Hillarynomics' Would Be Different http://kvnf.org/post/clintonomics-ruled-1990s-hillarynomics-would-be-different
If you are under 30, this may be hard to imagine, but in the late 1990s, the economy was a job-generating machine.<p>In 2000, the final year of Bill Clinton's presidency, the unemployment rate fell as low as 3.8 percent. Then, within a decade of his White House departure, the rate was up to 10 percent.<p>Those two numbers explain why the name "Clinton" remains magic for many.Tue, 14 Apr 2015 11:03:00 +0000Marilyn Geewax40132 at http://kvnf.org'Clintonomics' Ruled The 1990s; 'Hillarynomics' Would Be Different The Latest Item On McDonald's Shifting Menu: A $5 Burgerhttp://kvnf.org/post/latest-item-mcdonalds-shifting-menu-5-burger
McDonald's <a href="http://www.npr.org/blogs/thesalt/2014/12/08/369402086/mcdonalds-reports-steep-drop-in-sales-at-u-s-restaurants">has been struggling</a> in recent years to keep pace with fast-casual chains like Five Guys and Chipotle Mexican Grill.<p>So the fast-food giant is testing different menu options to lure back customers. Starting later this month, McDonald's diners will be able to choose a $4.99 sandwich — the Sirloin Third Pound burger.<p>In a way, the sandwich is not all that new.Wed, 08 Apr 2015 20:49:00 +0000Marilyn Geewax39924 at http://kvnf.orgThe Latest Item On McDonald's Shifting Menu: A $5 BurgerFor U.S. Workers, The March Of Progress Slows Downhttp://kvnf.org/post/us-workers-march-progress-slows-down
<em>Dear March,</em><p><em>We got your news that employers added just 126,000 jobs on your watch. Hate to say it, but you have disappointed everyone. No doubt you'll say you were under the weather — literally. Sure, it was cold, but still ... Let's hope April does better. </em><p><em>Sincerely,</em><p><em>America</em><p>On Friday, the <a href="http://www.bls.gov/news.release/empsit.nr0.htm">Labor Department's report</a> on weak jobs growth left economists scrambling to explain what went wrong in March.<p>Most had forecast about 245,000 new jobs for the month, but they were way off base.Fri, 03 Apr 2015 18:13:00 +0000Marilyn Geewax39702 at http://kvnf.orgFor U.S. Workers, The March Of Progress Slows Down If A Caller Says, 'I Am With The IRS,' He's Nothttp://kvnf.org/post/if-caller-says-i-am-irs-hes-not
True story: The other day, I attended a <a href="http://www.npr.org/blogs/thetwo-way/2015/03/31/396652208/irs-head-says-so-far-so-good-for-obamacare-s-first-tax-season">speech by IRS Commissioner John Koskinen</a>, who said phone scammers are swarming the country in the run-up to April 15, aka Tax Day.<p>These criminals call taxpayers and insist they must "immediately give up their personal information or make a payment," Koskinen warned. Don't fall for it.<p>"If you are surprised to be hearing from us, you are <em>not</em> hearing from us," Koskinen said.Fri, 03 Apr 2015 13:57:00 +0000Marilyn Geewax39693 at http://kvnf.org If A Caller Says, 'I Am With The IRS,' He's NotCensus Data Prove It: We Prefer Sunshine And Golf Cartshttp://kvnf.org/post/census-data-prove-it-we-prefer-sunshine-and-golf-carts
If you live in a town still dotted with dirty piles of old snow, this is not going to come as good news:<p>The U.S. Census Bureau today listed the nation's <a href="http://www.census.gov/newsroom/press-releases/2015/cb15-56.html">fastest-growing metro areas</a>.Thu, 26 Mar 2015 18:46:00 +0000Marilyn Geewax39363 at http://kvnf.orgObama, Unions On Opposite Sides Of The (Fast) Track For Trade Dealshttp://kvnf.org/post/obama-unions-opposite-sides-fast-track-trade-deals
This week, labor leaders made sure President Obama knows that when it comes to foreign trade, they are living on opposite sides of the track — the "fast track," that is.<p>That's a term describing a president's broad power to negotiate a trade agreement — and then put the final package on a "fast track" through Congress.Thu, 12 Mar 2015 22:06:00 +0000Marilyn Geewax38802 at http://kvnf.orgObama, Unions On Opposite Sides Of The (Fast) Track For Trade DealsThe Numbers Add Up To This: Less And Less Opportunity For Poor Kidshttp://kvnf.org/post/numbers-add-less-and-less-opportunity-poor-kids
In this country, all children are supposed to have a shot at success — a chance to jump "from rags to riches" in one generation.<p>Even if riches remain out of reach, then the belief has been that every hard-working American should be able to go from poverty to the middle class.<p>On Tuesday, a book and a separate study are being released — both turning up evidence that the one-generation leap is getting harder to accomplish in an economy so tied to education, technological know-how and networking.<p>Harvard political scientist Robert Putnam's new book, <em>Our Kids: The American Dream in CrisTue, 10 Mar 2015 04:03:00 +0000Marilyn Geewax38666 at http://kvnf.orgThe Numbers Add Up To This: Less And Less Opportunity For Poor KidsMore Jobs, Less Inflation Drive Down 'Misery' — So Where's The Joy?http://kvnf.org/post/more-jobs-less-inflation-drive-down-misery-so-wheres-joy
For decades, economists have tracked the "misery index," a simple formula that adds the unemployment rate to the inflation rate. The result equals how miserable — or not — you feel.<p>On Friday, the Labor Department released February's <a href="http://www.bls.gov/news.release/empsit.nr0.htm">jobs report</a>, and the good numbers will further drive down the misery index, already at its lowest level in more than a half-century, thanks to falling oil prices.<p>The White House cheered the 5.5 percent jobless rate, which was down two-tenths of a point.Sat, 07 Mar 2015 14:22:00 +0000Marilyn Geewax38582 at http://kvnf.orgMore Jobs, Less Inflation Drive Down 'Misery' — So Where's The Joy?Wages And Prices: A Welcome Breakuphttp://kvnf.org/post/wages-and-prices-welcome-breakup
A new government report confirms: Wages and prices are going their separate ways.<p>This breakup is helping consumers on the rebound from recession.<p>Fresh evidence of the split came Monday in the Commerce Department's <a href="http://bea.gov/newsreleases/national/pi/pinewsrelease.htm">monthly report on personal spending, income and saving</a>. It showed paychecks are fatter, prices are leaner and Americans are saving more.<p>"Personal income gains were up 0.3 percent for the second month in a row," Chris Christopher, an economist with IHS Global Insight, said in a written analysis.Mon, 02 Mar 2015 18:49:00 +0000Marilyn Geewax38350 at http://kvnf.orgWages And Prices: A Welcome BreakupHigher Wages, Lower Prices Give Consumers A Breakhttp://kvnf.org/post/higher-wages-lower-prices-give-consumers-break
Economists usually worry about a "wage-price spiral" taking hold.Thu, 26 Feb 2015 17:31:00 +0000Marilyn Geewax38186 at http://kvnf.orgHigher Wages, Lower Prices Give Consumers A Break